USD/INR Technical Analysis: Eyes test of 200-day MA support at 70.65

The bearish view put forward by the range breakdown on Friday has been reinforced with today's 0.12 percent drop to 70.80.

Add to that, the descending 5- and 10-day moving averages (MAs) and the fading Indo-Pak tensions and the probability of a drop to the 200-day MA of 70.65 appears high. 

A close below that average would only bolster the bearish technical setup, opening doors to Feb. 13 low of 70.40. 

Daily chart

Trend: Bearish